Buffett Puts Weight Behind Omaha Newspaper Biz

Law360, New York (November 30, 2011, 3:05 PM EST) -- Warren Buffett's Berkshire Hathaway Inc. is buying the billionaire investor's hometown newspaper the Omaha World-Herald and six other dailies in Nebraska and southwest Iowa, he announced Wednesday.

Berkshire Hathaway struck a deal to buy the Omaha World-Herald Co., which in addition to the daily newspapers publishes several weeklies in the area. Terms of the deal weren't disclosed.

Buffett has long been a critic of the newspaper business, telling investors that he wouldn't buy most papers "at any price." He said newspapers were no longer essential to...
To view the full article, register now.